China News Service, Dongguan, December 21 (Li Yingmin and Li Huo) The reporter learned from the People’s Bank of China’s Dongguan City Center Sub-branch on the 21st that at the end of November, the “World Factory” balance of deposits in the banking sector in Dongguan, Guangdong exceeded 2 trillion yuan (RMB, the same below) ).

  Since the reform and opening up, Dongguan started with a processing trade based on "three to one supplement". After more than 40 years of development, Dongguan has become an economically developed city in China.

  Since 2016, Dongguan's economic and industrial structure, which has passed the turning point of transformation and upgrading, has been greatly optimized and adjusted, and it has successfully transitioned from traditional manufacturing to an advanced manufacturing system dominated by electronic information and mechanical equipment. Dongguan's financial industry has once again entered the fast lane of growth.

  According to data released by the People's Bank of China's Dongguan City Center Sub-branch, from 2016 to 2020, the average annual compound growth rate of deposits and loans in Dongguan reached 12.8% and 16.4%, respectively, and the proportion of the added value of the financial industry in GDP increased from 6.4% to 6.7%.

At the end of November 2021, the balance of various deposits and loans in Dongguan reached 2000.4 billion yuan and 1,499.2 billion yuan, respectively, an increase of 177.1 billion yuan and 212.5 billion yuan from the beginning of the year, ranking first among prefecture-level cities in Guangdong.

  It is reported that since 1990 when Dongguan has a permanent population, the per capita deposits in Dongguan have achieved positive growth for 31 consecutive years. In 2020, the city’s per capita deposits were 173,900 yuan, an increase of approximately 44 times over 1990.

  At the end of November 2021, among the 2 trillion yuan in deposits in Dongguan, the balances of household and non-financial corporate deposits reached 751.4 billion and 688.2 billion respectively, demonstrating the solid wealth of market players, and the “hidden wealth in the people” is worthy of the name.

  It is worth noting that the manufacturing industry, which is the foundation of Dongguan's city, has a long-term loan balance that ranks first among all industries.

In the first November of 2021, loans to Dongguan manufacturing and inclusive small and micro enterprises increased by 23.9% and 48.8% year-on-year respectively.

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